SunCoke Energy Inc Stock Forecast
Stronger technical forecast for SunCoke Energy Inc stock price after Thursday trading.
(Updated on Apr 25, 2024)
The SunCoke Energy Inc stock price gained 0.87% on the last trading day (Thursday, 25th Apr 2024), rising from $10.38 to $10.47. During the last trading day the stock fluctuated 3.15% from a day low at $10.17 to a day high of $10.49. The price has been going up and down for this period, and there has been a -3.23% loss for the last 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 779 thousand shares were bought and sold for approximately $8.16 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.33 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect SunCoke Energy Inc stock with a 90% probability to be traded between $10.31 and $11.35 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SXC Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 0.87%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SunCoke Energy Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.63 and $10.91. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should go up by 12.57% to $11.79 within 39 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for SunCoke Energy Inc stock
SunCoke Energy Inc finds support from accumulated volume at $10.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.320 between high and low, or 3.15%. For the last week, the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: $9.89 (-5.53%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SXC) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect SunCoke Energy Inc to open at $10.38, and during the day (based on 14 day Average True Range), to move between $10.15 and $10.79, which gives a possible trading interval of +/-$0.320 (+/-3.05%) up or down from last closing price. If SunCoke Energy Inc takes out the full calculated possible swing range there will be an estimated 6.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.38 (0.86%) than the resistance at $10.70 (2.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
SunCoke Energy Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.220. We will update the financials statements for SunCoke Energy Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.05% in the first trading day after earnings release.
Is SunCoke Energy Inc stock A Buy?
SunCoke Energy Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.452 Hold/Accumulate Upgraded
Predicted Opening Price for SunCoke Energy Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $10.38 ( 0.89%) | $10.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SXC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.70 | 2.16 % | |
| R2 | 10.57 | 1.00 % | ||
| R1 | 10.50 | 0.276 % | ||
| Current price: | 10.47 | |||
| Support | S1 | 10.25 | -2.06 % | |
| S2 | 10.18 | -2.78 % | ||
| S3 | 10.06 | -3.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.74 | 2.58 % | |
| R2 | 10.71 | 2.29 % | ||
| R1 | 10.70 | 2.20 % | ||
| Current price | 10.47 | |||
| Support | S1 | 10.38 | -0.86% | |
| S2 | 10.34 | -1.24% | ||
| S3 | 10.25 | -2.10% |
SXC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.100 | 0.93% |
| 2 | Nov 01, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.100 | 1.06% |
| 3 | Aug 01, 2023 | Aug 16, 2023 | Sep 01, 2023 | $0.100 | 1.03% |
| 4 | May 04, 2023 | May 17, 2023 | Jun 01, 2023 | $0.0800 | 1.17% |
| 5 | Feb 02, 2023 | Feb 15, 2023 | Mar 01, 2023 | $0.0800 | 0.81% |
FAQ
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